Last week was a bad week, the Nasdaq cratered 5.1%, the NYSE composite plunged 4.6%, the S&P500 dipped 4%, and the Dow, the only index that managed to close above its ten week average, gave up 2.6%. To make matters worse, last’s week’s downturn came on higher volume, indicating substantial institutional selling, and the IBD outlook was changed to “market in correction”. Avoid new purchases and don’t let any gains turn into losses, raise cash where appropriate. Be sure and limit all losses to no more than 7-8%, just sell, no questions asked, and live to invest another day, when the market returns to an uptrend.
This week, no watch list stocks are in a buy range.
/as usual, your mileage may vary, always do your own homework